15th May 2015 09:19
LONDON (Alliance News) - Castle Street Investments PLC Friday said it expects its net cash balances to be GBP1 million higher than previous estimates.
"The company also continues to make good progress in closing out various of its liabilities on satisfactory terms. Accordingly, the directors now anticipate that the company's net cash balance at December 2015 is likely to be approximately GBP21 million, an improvement of GBP1 million on previous estimates," the company said.
"On this basis, estimated net cash balances at the year-end would represent 29.5 pence per share," the company added.
In addition, the company said that Niall Stirling will no longer be stepping down from the roles of executive director and company secretary on June 24. Instead, he will "remain in position until further notice".
Castle Street shares were up 1.4% at 27.62 pence on Friday.
By Samuel Agini; [email protected]; @samuelagini
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